July 29, 2021
TechNY15 Stock Index: 1,502.89 (+18.11) (+1.2%)
Keeping the NYC Tech Industry Informed
1. Google has delayed the reopening of its offices until October 18. Google will also require vaccinations for anyone coming to the office. Offices were to reopen right after Labor Day. (CNBC)
2. Twitter has closed its NYC and San Francisco offices over new COVID concerns. The company reopened the offices two weeks ago on July 12. (New York Post)
3. NYC’s Bubble, a no-code development platform, has raised $100 million in a Series A funding. NYC-based private equity firm Insight Partners led the round. Bubble’s platform, which has one million users globally, allows entrepreneurs to build web applications like Airbnb or Twitter without relying on engineers. (www.bubble.io) (Reuters)
4. Brooklyn’s Block Renovation, a tech platform that simplifies home renovation, has raised $40 million in a Series B funding. Giant Ventures led the round and was joined by NEA, Morningside, NYC’s Lerer Hippeau and Obvious Ventures. Block uses LiDAR-enabled site surveying, 3D visualization and quality design standards to reduce overall kitchen construction time by up to 50%. (www.blockrenovation.com) (BusinessWire)
5. NYC’s Bbot, an ordering and payment processing platform for restaurants, has raised $15 million in a Series A funding. The round was led by CRV. Bbot makes a mobile order and payments platform that restaurants can use to promote contactless interaction with customers. (www.meetbbot.com) (The Spoon)
6. NYC’s Obé Fitness, a digital fitness platform, has raised $15 million in a Series A funding. CAVU Venture Partners led the round and was joined by Athleta, Samsung Next, Tiffany Haddish, Wheelhouse Entertainment, WW International, Cassius Ventures, Ludlow Ventures, Harris Blitzer Sports Entertainment and BDMI. Obé — which stands for Our Body Electric — is a $27 per month streaming platform that features 22 live daily fitness classes and more than 6,000 on-demand classes. (www.obefitness.com) (TechCrunch)
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7. NYC’s Outbrain, a content recommendation platform, raised $160 million in its initial pubic offering last Thursday. The stock closed at $20.99 a share on its first day of trading valuing the company at $1.25 billion. Outbrain now trades on the Nasdaq under the symbol “OB”. (www.outbrain.com) (VentureBeat)
8. NYC’s JOKR, a grocery delivery startup, has raised $170 million in a Series A funding. GGV Capital, Balderton Capital and NYC’s Tiger Global Management led the round and were joined by Activant Capital, NYC’s Greycroft, FJ Labs, Kaszek, and Monashees. The company plans to offer 15 minute delivery by turning as many as 100 NYC storefront locations into micro-fulfillment centers.(www.jokr.it) (TechCrunch)
9. Intel Corp’s autonomous driving division Mobileye is testing its self-driving technology on the streets of NYC. The company received a testing permit after supplying data from self-driving programs in other cities. The test cars have a human standby driver behind the wheel. You can watch a video of an autonomous drive around Manhattan here. (Future Car)
10. The New York Post reported on NYC’s Barstool Sports’ efforts to provide financial support to NYC restaurants during the pandemic. In exchange for the support, the restaurants are required to keep their staff and stay up-to-date with rent and payroll. Among the 25 NYC restaurants which have received from $5,000 to $60,000 are Jackbar in Williamsburg, Kirvens in The Bronx, Eagle Pickle Works in Queens and Portobello Cafe in Staten Island. (www.barstoolsports.com) (New York Post)
11. NYC’s Vestwell, a platform which empowers workplace savings and investing programs, has raised $70 million in a Series C funding. Wells Fargo Strategic Capital and Fin Venture Capital co-led the round, and were joined by Goldman Sachs, Morgan Stanley, Manulife, Point72, Nationwide Ventures, Allianz Life Ventures, Northwestern Mutual, FinTech Collective, Greenspring Associates, NYC’s Primary Venture Partners, Teamworthy Ventures, F-Prime Capital, Industry Ventures and Commerce Ventures. Vestwell’s platform provides digital recordkeeping for 401(k) and 403(b) plans. (www.vestwell.com) (PR Newswire)
12. NYC’s Quit Genius, a digital treatment platform for addictions, has raised $64 million in a Series B funding round. The round was co-led by Kinnevik and Atomico with participation from Octopus Ventures, Triple Point Ventures and Startup Health. The company offers treatment programs for tobacco, alcohol and opioid addictions utilizing virtual cognitive behavioral therapy, medication, coaching and a connected breath sensor. Quit Genius is one of the U.K startups in NYC. (www.quitgenius.com) (MobiHealth News)
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